Tuesday, March 25, 2008

MONEYVANTAGE: An Introduction!

DO YOU HAVE DREAMS OF BECOMING RICH?

It was always my dream and everybody's dream to be rich. Not in the sense of being materialistic. All we want is to have everything in our life. Being complete as a person especially becoming mentally, physically, and spiritually rich in a sense. The these three element should be balanced.

Since late 2005, I have taken interest on a lot of things, read lots of books and attended seminar regarding different financial streams and investment as what most rich people do. Just a few of examples are investing into Real Estate, Stocks, Mutual Funds, and venture as an entrepreneur in creating a business as well that could provide cashflow and at the same time provide jobs also. Robert Kiyosaki's Rich Dad, Poor Dad book gave me the insight on his life on how he failed and at the same time succeed in what he does today (engage in real estate and other businesses).

Currently I am into real estate and have been in the industry for the past three years, the property selling business is still good and the demand is high especially for Business Process Outsourcing (BPOs), Filipino-foreigners and Overseas Filipino Workers (OFWs) who would like to own a piece of the Philippines. The flow of income is great. In comparison to my current job in a different sector outside of my real estate venture, it is twice or thrice bigger than what I have receive from my 15-30 paychecks for the whole year including Christmas and performance bonuses I received from my job combined.

So far, I have diversified some of my earnings through mutual funds, invested in a small business which eventually failed a month ago (I will definitely try another or do the same business again with much improved product and location availability) and will soon dabble into the complex work of the stock market which became an interest for me since 2001 when I was a 19 year old college student. I never learned stock market and understand the stock trading even if I signed up for the virtual stock exchange in the internet for young people in the U.S. and eventually lost interest in it because I have no mentor or no one to teach plus the hectic schedule of being in college and hitting the books all the time ate most of my time.

Later this month, I took great interest again on the stock market when I have seen the ANC News Channel on the free seminars conducted by CitiSecurities, Inc. / CitiSeconline, an Online Stockbrokerage company (www.citiseconline.com) named "INVESTING IN THE STOCK MARKET TODAY" which I have attended a week ago on their head office in Philippine Stock Exchange (Tektite) Building in Ortigas, Pasig City. It gave me a a new things to learn on investing in other stream of income generation even if it running on a bearish market and I am crossing my finger on have a bull run in the next few months before investing a portion of my earnings and savings into the stock market.

Failing is a process of learning, as I have mentioned earlier I failed my first commercial business. Me, my sister and her partner from school have ventured into the Food & Beverage business. We were selling budget friendly pasta and pizza for college kids in a well-known college in the University belt area - Manila. Business was good and picking up in the first few months but somehow, we incurred tremendous losses during the semestral break and Christmas break. It blew our hats off and realized we are heavily loosing money and our capital is bleeding when we finally decided to close our joint-venture enterprise. Somehow we learned how to manage some issues and settle some misunderstanding on what happened but the trials didn't deter us our will and spirit in becoming the young entrepreneurs of the future as in we are making our product better.

So far the most spiritual and inspirational book a I have read was Bo Sanchez's 8 Secrets of the Truly Rich. It emphasizes on the notion that even the poor can become rich in terms of getting out of debt and even fuelling our urge to succeed with God's guiding hand. It awakened me spiritually and I have given thought about why most Filipinos are poor is due to negative thinking of "MONEY IS THE ROOT OF EVIL".

I dreaded that word before, if you read the bible on 1 Timothy 6:10. Money is NOT the root of all evil but "THE LOVE OF MONEY IS THE ROOT OF ALL EVIL" (see entry). That mindset of "MONEY IS THE ROOT OF ALL EVIL" is what is keeping us poor. I am telling you that you can make money your ally and even make your money work for you harder as your slave and NOT being enslaved by money. Through proper financial know-how and also gaining the financial literacy we need as Filipinos. It was so sad on watching it on TV news that 8 out of 10 Filipinos do not have or ignorant on financial literacy and how money works and other things.

I know that our formal education system did not educate us or provided little know how on personal finance is. However, this is fresh start for me and you also in gaining those insights and knowledge that therefore would make wiser decision in your spending habits and at the same time saving something for retirement, for business and even a little something for pleasure once in awhile.

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